Skip to main content

Elon Musk’s Confusing Tweet that Crushed Bitcoin

Bitcoin crumpled after Tesla cofounder Elon Musk posted a controversial tweet that was misinterpreted by most bitcoin investors. The value of Bitcoin plummeted to $42,000 on Monday after Musk’s statement, but later rebound after he clarified that Tesla hadn’t sold its holdings.

The value of the cryptocurrency surged to $45,000 following an explanation made by the world’s richest person. “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings,” Musk wrote on Twitter prompting the lowest plunge ever since February 2021.

Bitcoin’s value was resuscitated from further plunge when he tweeted: “To clarify speculation, Tesla has not sold any Bitcoin.” 

Musk triggered speculations when he tweeted on Wednesday that Tesla would halt accepting Bitcoin as payment for its electric vehicles over token’s insanity in energy consumption. 

Earlier own, Musk attracted criticism from environmentalist over his promotion of cryptocurrency, which consumes lot of energy during crypto-mining. 

Unconfirmed sources indicate that Musk is contemplating to mine bitcoin in space using solar-powered systems and source internet services from SpaceX Starlink.

Why Musk has Dumped Bitcoin?

Elon Musk seems to be falling out with Bitcoin as he strives to uplift dogecoin. The SpaceX CEO and Tesla cofounder has magical spell, deciphered in his brief tweets that impact global crypto fad. His twitter posts have seen the rise and fall of several cryptocurrencies.

Tesla started accepting Bitcoin after Musk’s declaration on March. His pronouncement came after Tesla bought Bitcoin valued at $1.5 billion. The initial crypto-investment pushed the value of bitcoin higher.

The volatility of bitcoin’s value might be a major impediment towards its acceptability in major retailers. Crypto investors believe that Musk has a rich background regarding cryptocurrencies and there is more to be discerned over his several tweets. 

Musk’s Monday announcement also impacted to massive sell-off in several cryptocurrencies including dogecoin, ether and XRP. It’s undisputable that Musk is one of the major drivers of the bitcoin success. Musk has expressed his interest in dogecoin – a cryptocurrency that was coined from a joke in 2013.

Twitter explodes over Bitcoin crush

Crypto investors are now worried over the manipulation of crypto value by Musk. His tweets have proven to be a major shaker to the crypto market. The world tycoon proofs to know more than he can divulge to the world.

Bitcoin trended on Twitter for the better part of Monday as social media enthusiasts delved deeper into discussing the impact caused by Musk’s post.

One person wrote on Twitter: This is a game #Bitcoin then @elonmusk will buy again at drop price.. #bitcoin is gambling, not against buying of #Bitcoin but if you not good in gambling/ game you ganna loose chief.”

Another person tweeted: Sold my @Tesla stock today to buy more #Bitcoin. Bitcoin don’t need Elon.”

Labels:

Comments

Post a Comment

Popular posts from this blog

Kenyans surprised over UDA's 'Voters Repair' remarks for President Ruto 2027 reelection

 Kenyans are reacting strongly to remarks by some UDA leaders that many interpret as hints at election manipulation ("ukarabati ya kura" / "voters repair") ahead of the 2027 presidential election. What Happened On or around May 23, 2026, NTV Kenya and other outlets aired footage from a UDA meeting at Kakamega Deputy Governor Ayub Savula's home.  Leaders including Savula and MP Charles Gimose reportedly used phrases like "tutafanya ukarabati ya kura" (we will repair/do maintenance on the votes).  Some comments referenced high victory margins in places like Tanzania under Samia Suluhu or Museveni-style wins. This has been widely seen as implying plans to "fix" or pad results in favor of President William Ruto's reelection, rather than a literal call for better voter registration or system maintenance. Public Reaction 1. Surprise and outrage: Many Kenyans on X and social media expressed shock, viewing it as arrogant or desperate signaling am...
Post a Comment
Read more

How to commercialize your prototype innovation in Kenya

Commercializing a prototype in Kenya involves transforming your innovation from a proof-of-concept stage into a marketable product or service that generates revenue. This process requires protecting your intellectual property (IP), validating market demand, securing funding, and selecting the right business model.  Kenya has a supportive ecosystem with government agencies, grants, and innovation hubs to help.  Below is a step-by-step guide based on established practices and resources. 1. Protect Your Intellectual Property (IP) Before commercialization, safeguard your innovation to prevent copying. In Kenya, IP protection is handled by the Kenya Industrial Property Institute (KIPI). Register your IP : File for patents, trademarks, copyrights, or industrial designs. Patents are crucial for inventions and provide a 20-year monopoly.  Start with a patent search to ensure novelty, then apply via KIPI's online portal. Costs range from KSh 3,000–50,000 depending on the type. Why...
Post a Comment
Read more

Important steps to be taken when buying Land in Kenya

  Land is a vital asset and acquiring it requires utmost caution to avoid finding yourself in a protracted, unending legal battle. As Kenya's economy bites, there has been increased cases of land fraud.  Land disputes have been so rampant, hence the need for advocacy of future land buyers to be cautious when undertaking land transfer processes. Factors to consider when purchasing land in Kenya 1. Do a land search at the ministry of lands. This enables you to confirm the real owner of the land and know whether it has any legal dispute, loan or unpaid tax. 2. Site visit: Make sure you see the land physically and confirm its boundaries. 3. Land verification: Verify the authenticity of the property at the land registry and confirm if it is freehold, leasehold or communal. 4. Sale agreement: Engage a lawyer and a surveyor for legally sound transaction. 5. Land transfer: Make sure the original titledeed is transferred from the name of the seller to your name. 6. Register your land w...
Post a Comment
Read more